The Savola Group, a leading strategic investment holding group in the regional food and retail sectors, has announced solid results for FY 2025 with a 13% jump in its revenue which soared to SAR26.1 billion ($7 billion) mainly driven by growth in its retail, food processing and frozen foods segments.
Saudi-based Umm Al Qura for Development and Construction Company has announced the extension of two reservation agreements with Mousa Abdulaziz Al Mousa & Sons Real Estate Holding Group for the sale of two plots within its premium Masar Destination in Makkah.
Aedas, a leading global architecture and design practice, has secured the design and project architecture contract for a 100-key hotel project - Capella Diriyah by Aedas - coming up over a 14,168 sq m area within the Northern District of the giga Diriyah development in Saudi Arabia.
Roshn Group, Saudi Arabia's leading multi-asset class developer powered by sovereign wealth fund PIF, has signed a strategic agreement with Miskan Real Estate Company, to develop more than 68,000 sq m of land within Warefa community in the capital Riyadh for a key residential project.
SATORP, a joint venture between Saudi oil giant Aramco and French multinational integrated energy TotalEnergies, has signed up KBR, a leading technology and engineering solutions company, to provide comprehensive maintenance services for its petrochemical complex in Jubail for the next seven years.
The future of the Saudi heavy construction equipment market appears promising, driven by ongoing government initiatives and urbanisation trends. Under its Vision 2030 initiative, the kingdom aims to invest over $500 billion in mega housing and urban development projects, thus driving demand for advanced machinery, said a report.
Saudi Arabia's heavy construction equipment market is poised for solid growth over the next few years with the market set to hit $3.5 billion by 2030, driven by the ongoing government initiatives and urbanisation trends. As the country continues to invest in mega projects, the demand for advanced machinery is set to rise, said a report.
Diriyah Company has awarded SAR2.5 billion ($666 million) contract for the implementation of the Pendry Superblock Package within its giga project in Saudi capital Riyadh. The scope of work includes construction of the Pendry Hotel as well as premium residential and commercial assets spanning over a 75,000 sq m area.
Saudi utility major Acwa has reported solid results for FY 2025 with its revenue soaring to hit SAR7.41 billion ($1.97 billion) and its net profit recording a 60% growth over the previous year as higher operating income and stronger contributions from operating assets lifted earnings.
Saudi-based oil drilling group ADES Holding beat analyst expectations with a 2 per cent rise in annual net profit and reiterated its strong growth forecast for this year despite some rig suspensions last year and recent halts due to the Iran war.
